Family Protection Benefit definition

Family Protection Benefit means the benefit payments defined in Section 7 of this Plan.
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Examples of Family Protection Benefit in a sentence

  • Family Protection Benefit payments shall be paid in full to the surviving Spouse or divided equally amongst those Dependents who have not reached their 18th birthdays in the event that there is no Spouse.

  • A Family Protection Benefit shall become payable upon the event that the Nominee dies in the active service of the Company or after retirement and leaves a surviving Spouse or Dependent.

  • In the event that the Nominee dies after retirement and did not elect a lump-sum, the amount of the Family Protection Benefit shall be equal to one-half of the Nominee's Retirement Benefits under this Plan.

  • In the event that the Nominee dies prior to retirement but after having 25 years of service or satisfying the age and service requirements for early or normal retirement under the Company's Regular Retirement Plan, the amount of the Family Protection Benefit shall be equal to one-half of the benefit calculated in accordance with Section 5 that would have been payable if the Nominee had been deemed to have satisfied the eligibility requirements under this Plan as of the date of death.

  • In the event that the Nominee dies prior to retirement and before having 25 years of service or satisfying the age and service requirements for early or normal retirement under the Company's Regular Retirement Plan, the amount of the Family Protection Benefit shall be equal to the full benefit calculated in accordance with Section 5 that would have been payable if the Nominee had been deemed to have satisfied the eligibility requirements under this Plan as of the date of death.

  • Family Protection Benefit and Children Protection Benefit Riders will be treated as if the Insured died on the Election Date.

  • Family Protection Benefit and Children Protection Benefit Riders will betreated as if the Insured died on the Election Date.

Related to Family Protection Benefit

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

  • Termination Benefit means the benefit set forth in Article 7.

  • superannuation benefits means pensions, gratuities and other allowances payable on resignation, retirement or death;

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Pension Benefits Act means The Pension Benefits Act of Ontario and regulations thereunder as amended from time to time.

  • Paycheck Protection Program means loan program created by Section 1102 of the CARES Act.

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • CIC Protection Period means the two-year period beginning on the date of a Change in Control and ending on the day before the second annual anniversary of the date of the Change in Control.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Disability retirement for plan 1 members, means the period

  • Change in Control Protection Period means the period commencing on the date a Change in Control occurs and ending on the first anniversary of such date.

  • Continuing care retirement community means a residential

  • Disability Benefit means the benefit set forth in Article 8.

  • Family leave means any leave taken by an employee from

  • Change in Control Benefit means the benefit described in Section 2.4.